13th February 2019
Most London-based banks moving to the euro area due to Brexit have made “reasonable progress” in preparing the move, European Central Bank director Sabine Lautenschlaeger said on Wednesday. “We have urged and pushed them (banks) to prepare for all potential outcomes of the political process,” she told an audience in… Read More
13th February 2019
AP — The widow of a Nigerian activist executed by their country’s government more than two decades ago accused oil giant Shell of complicity in his death at a civil case in a Dutch court Tuesday. “Shell came into my life to make me a poverty-stricken… Read More
13th February 2019
AP – President Donald Trump has signed an executive order directing federal agencies to prioritize research and development in artificial intelligence. The plan, called the American AI Initiative, follows big investment pledges from China and other countries intended to advance and apply AI technology in fields… Read More
13th February 2019
The European Union needs tougher anti-fraud controls including a central body able to enforce laws against money laundering, European lawmakers said on Friday, describing financial crime as as a security problem for the continent. Curbs should be more uniform across the EU and its framework for swapping financial intelligence is… Read More
12th February 2019
Deutsche Bank has sharply scaled back its role as a correspondent bank, an executive said on Monday of a business line that has dragged it into a money laundering scandal involving Danske Bank. Deutsche Bank’s global correspondent banking portfolio is now around 40 percent smaller than it was in 2016,… Read More
12th February 2019
An art dealer who made over a million dollars when he sold a painting and set up a scheme to avoid paying tax on it has been jailed. New Jersey-based Brian Gimelson made more than $1.2 million over the sale of a purportedly original painting by the Italian painter Michelangelo… Read More
11th February 2019
Top executives at some banks have commended the newly implemented Senior Managers and Certification Regime (SM&CR), whose effectiveness was recently questioned over its handling of Barclays CEO Jes Staley. In a statement discussing a video on its site, the Financial Conduct Authority’s (FCA) quoted a number of bank bosses… Read More
11th February 2019
AP — The Senate’s top Democrat is introducing legislation to “hold China accountable” and sanction laboratories and other traffickers who export fentanyl to the United States. The bill, which will be introduced by Sen. Charles Schumer, of New York later this week, is likely to add to growing tension between… Read More
11th February 2019
A new scheme that trains bank staff to spot the signs of a scam and help customers deemed at risk has helped prevent £38 million in fraud, an industry group said. Under the Banking Protocol, staff can request an immediate police response to the bank if they believe someone is… Read More
11th February 2019
The Tribunal de Grande Instance de Paris in France has launched an official investigation into Danske Bank regarding suspicion of money laundering linked to its non-resident customers portfolio. The probe covers transactions amounting to around €21.6 million. anske has been ordered to post bail of €10.8 million. The… Read More